As per Reddit, the two best wallets you can try out are listed below: 1. However, for beginners, hot wallets are more suitable due to their convenience and ease of use. One main advantage of using these wallets over hardware/cold wallets they are often free, while hardware wallets have a one-time device cost. Usually, they are based on mobile, web, and desktop platforms which allow you to store your cryptocurrencies on their respective devices. These wallets are often online and connected to the internet in some way. The only other prominent cold wallet for cryptocurrencies is ColdCard, but it doesn’t offer support to ERC-20 standard tokens, but it is even more secure as it is air-gapped. Trezor One supports over 1,000 cryptocurrencies, while Trezor T provides support for even more cryptocurrencies, officially being the wallet that supports the most crypto assets.
Trezor uses open-source software which hasn’t been hacked yet. Model T is the more sophisticated model with a full-color touchscreen for ease of direct device use it also offers Micro SD storage. Trezor One is the cheapest crypto cold wallet available of the highest reputation. Trezor also has two wallet offerings, Trezor One and Trezor Model T. It has caused some Redditors to second guess their choice before choosing Ledger wallets. Although it is important to note that user data has been leaked from Ledger through phishing attacks, the funds weren’t impacted. Nano supports more than 700 crypto assets.
The Nano X is priced higher, which adds more usability than the Nano X while also providing Bluetooth capabilities. The Nano S is a great starting point for beginners using cold wallets due to its pricing. Ledger has two crypto wallet offerings, Nano S and Nano X. In addition, they have desktop and smartphone applications like Ledger Live and Trezor Suite that allow you to use your crypto funds directly from the wallet. These wallets have two versions available, one for beginners and the other for more experienced users willing to shell out an extra buck. They are usually based on small to medium-sized USB sticks.Īccording to Reddit, two hardware wallets stand out by consensus, Ledger and Trezor. The reason is that since it’s not connected to the internet, it’s completely safe from hackers and virus attacks. They are usually touted to be the safest way to keep your crypto in a safe, secure manner, be it any amount. These wallets allow you to store the private keys for your cryptocurrencies in a secure tangible hardware device. But it is all up to you, as we’ll list the best crypto wallets according to Reddit, whether they are hot or cold ones. With these pros and cons in mind, we’d suggest you going with a cold wallet. ❌ Slightly inconvenient for beginners as it could be a complicated process ❌ Expensive, especially since more hot wallets are free ❌ Delays in transactions at times due to the centralized servers being congested Cons of Cold Wallets ❌ Wallets are based on centralized servers ✅ No limit on the amount of crypto that can be stored Pros of Hot Wallets ✅ Not connected to the internet, free from hacks and scams ✅ Secure, your crypto can’t be more secure than storing it in a cold wallet A software wallet can be easier to access on the go. Most Redditors seem to recommend having a cold wallet as you’ll have access to that no matter what (offline). Broadly, there are two types of crypto wallets, hot wallets (also known as software wallets) and cold wallets (also known as hardware wallets). The goal is to analyze various Reddit threads and see what Redditors prefer to safely store their cryptocurrencies. I will try to make it easier for you by scouting on Reddit for the best Bitcoin wallets. Even though most crypto exchanges have built-in wallets for these users, you should have a wallet of your own if security and privacy are your topmost priority.Īnd let’s be honest, choosing one wallet among hundreds of options is not easy. You would’ve heard the saying that goes around in the crypto-verse, “Not your keys, not your coins.” It essentially means that you don’t really own the crypto until you store it in your wallet. The high-grade security, support to a wide range of coins, and the Live Ledger features are what most Reddit users highlight.
While there is not one single option that stood out on Reddit, Ledger did score the most points because it was common in most threads.